Lending data
Who actually lends to wholesale businesses in South Dakota?
20 SBA 7(a) loans went to wholesale businesses in South Dakota recently, at a median of $200,000. Here are the lenders that made them, ranked.
20 SBA 7(a) loans went to wholesale businesses in South Dakota in the most recent fiscal years. The median was $200,000 over 10 years. The most active lender was Black Hills FCU, with 3 loans.
What lending to wholesale businesses in South Dakota actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Wholesale trade, South Dakota | All 7(a) borrowers |
|---|---|---|
| Loans approved | 20 | 214,102 |
| Median loan | $200,000 | $150,000 |
| 25th - 75th percentile | $31,250 - $627,075 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.62% | 10.25% |
| Share to startups | 20.0% | 33.6% |
| Charge-off rate, FY2010-19 cohort | not enough history | 7.1% |
Which lenders actually funded them
Ranked by loans approved to wholesale businesses in South Dakota. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Black Hills FCU | 3 | $25,000 | 0% | 8.50% |
| GBC International Bank | 3 | $3,000,000 | 0% | 9.75% |
| The Huntington National Bank | 2 | $137,500 | 100% | 9.00% |
| The First National Bank in Sioux Falls | 2 | $538,750 | 0% | 7.88% |
| Northeast Bank | 2 | $35,000 | 0% | 10.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $200,000 is 33% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- This is a hard market for new businesses. Only 20% of these loans went to startups, against 34% nationally. If you are pre-revenue, work from the startup table below rather than the main list.
- No single lender dominates, but the top three made 40% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.62% is 0.63 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 20.0% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| The Huntington National Bank | 2 | $137,500 | 100% | 9.00% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in South Dakota: restaurants and hotels, construction, retail, personal services, healthcare, manufacturing
- Wholesale in comparable states: Maine, Arkansas, Vermont, Mississippi, Delaware, Hawaii